Sunday, January 18, 2015

The Sun is Shining on New York

Governor Andrew Cuomo
Governor Cuomo's State of the State will address his proposal to the New York State Legislature to increase the state's minimum wage from $8.75 per hour to $10.50 and to $11.50 in New York City. 

This would be the first time in history the city has a different minimum wage than the rest of the state.

The proposal will face a challenge from the Republican controlled State Senate.

Gov. Cuomo also announced $400 million to fund city rental assistance program for homeless families leaving shelters. He also pledged to build 5,000 units of affordable housing.

Also, he said he would like to raise the state’s goals for hiring minority and women-owned businesses, as well as boost goals for minority youth hiring.

Gov. Cuomo said the New York economy is stable enough to withstand the minimum wage increase.

Governor Cuomo said,

"The time to fix the roof is when the sun is shining, and the sun is shining in New York." 

Many conservatives and fiscal libertarians will argue, minimum wage increases will hurt the economy. Some may even argue that we should abolish the minimum wage. But I do not agree with Governor Cuomo's bold conclusion that New York's economy is doing well. Many people are leaving New York. New York state is ranked last in so many categories, including the worst state to retire in!

I certainly don't see the sun shining on New York!